Winklevoss Twins Predict 'War on Crypto' Will Harm Democratic Party

Crypto billionaire Cameron Winklevoss has warned that the ongoing war against crypto by Senator Elizabeth Warren and SEC Chain Gary Gensler would harm the Democratic party.

"Senator Warren and Gary Gensler’s war on crypto is going to alienate an entire generation of would-be

Democrats," the crypto boss said in a Saturday tweet.

He referred to a CNN article that credited younger Americans for the strong Democratic performance in the midterm elections.

The report claimed that Democrats would have "gotten crushed without young voter support," noting that Democratic fundamentally, requiring deep changes from applications and wallets,” Buterin wrote.

Buterin explains that it will be necessary to build cross-chain solutions of layer-2 blockchains, drawing on examples of how it is difficult now for users to have only one address with the multiple different scaling solutions that exist on top of Ethereum today.

“In an L2 scaling world, users are going to exist on lots of L2s. Are you a member of ExampleDAO, which lives on Optimism? Then you have an account on Optimism! Are you holding a CDP in a stablecoin system on ZkSync?

House candidates won voters under the age of 45 by 13 points, while losing voters age 45 and older by 10 points.

Mentioning this, Cameron said winning the youth vote is a key part of the Democratic playbook. "Dems believe the youth vote will carry the day."

However, the recent regulatory scrutiny could negatively impact youth vote for Democrats as many Millennials and GenZ are supporters of crypto, the crypto veteran said.

"They don't debate the merits of crypto. They debate where and what to build next. And millions have put their life-savings into crypto. They won't forget the value destruction Warren and Gensler have caused."